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one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move the last minute further out. if these guys need three to six months to do it up right and get a compromise. i'm willing to give them four to six months extra time. >> settling a debt ceiling issue is in the interest of the president and of our country. you have today fitch came out and threatened to decrease the credit rating and they are doing it in a way that areckless because you have outside observers looking at us and i want to highlight a point you made earlier which is the fact that all spending bills are in the constitution. we are looki
one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move...
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. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an investment expert like northern trust by your side makes all the difference. we add precision to your portfolio construction by directly matching your assets and your risk preferences against your own unique life goals. we call it goals driven investing. after all, you don't climb a mountain just to sit at the top. you look around for other mountains to climb. ♪ expertise matters. find it at northern trust. >>> welcome back. zombie homes, have you heard of this? diana olick tells us what they are and how they can impact your property value. >> they are foreclosures
. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an...
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ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand -- production, rather. that sends the market up. when i got up this morning and looked at the screen, platinum made that 3% today. i looked at the metal sector and looked at things that were undervalued. i think gold short term will benefit but long term i think platinum is going to be a better bet. if platinum stays higher, than going through the latter part of the year, that could signal a change in the market sentiment. gold is your fear and platinum is going to be demand in manufacturing. that could signal a change but not yet. i think
ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand --...
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raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get through the debt ceiling debate, continuing resolution. it's going to be bumpy. we'll take full advantage of a market falldown during that period because you've got three main things going for you. housing turning for real, not just an inventory real liquiification and foreclosures. all that have stuff turning for real. it will turn into unemployment back half of the year. a little better transparency on fiscal policy. not necessarily the fix but the transparency. business cap "x" second half of the year and every single central bank in t
raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get...
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant legislation. >> congressman king in the studio after my asking all the time. >> i couldn't stay away from you, soledad. >> she's not really a tough interviewer is she? >> she's very nice and multiracial -- >> are we rolling on this? i love this. keep the nice part. i would appreciate that. >> she was the irish-american woman of the year, there you go. >> and i accepted. nice to have you congressman, appreciate it. >>> other stories making news john has that for us. >> lots of questions about the story involving notre dame's manti te'o and his girlfriend who was suppose
he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant...
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might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think that is good news pushing the debt ceiling out for stocks and i think generally would you look at it as good news, it certainly is fairly muted here. as for the major indices for the week, what simon was just talking about, there are deeper cyclical changes. big industrial names have been generally outperforming and that is very good news, if you think the global economy, those stocks would more closer would the global economy. >> you get this, this real tight hugging of the flat line friday. monday, tuesday, wednesday and then again today.
might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the...
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debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we will see the sequester, the path of least resistance. congress has to do something to prevent the sequester and the president agree to it. it's unlikely, 1$1.2 trillion, using the dollar for dollar basis, do it twice and -- >> have you seen "41," movie, "41." i saw a couple clips and president bush talking about the nixon year, because he was there and what was it like to be a republican. he said it was not a great time to be a republican at the end of the nixon era and the prospects for the party didn't look very positive. i don't know. it
debt ceiling. the coke group americans for prosperity is urging restraint from republicans during the negotiations. these guys you said are on the right have moved to those guys you said were in the center, some of them, anyway, right? >> i think -- >> these guys are folding, caving. they know obama has them on the run, as far as public opinion. they're running off -- >> nothing is ever simple. the debt ceiling is only 1 of 3. >> you'd sequester -- >> i think we...
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this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending on entitlements like social security and medicare and fixing a long-term problem. it's not just about paying the bills. it's about the future. >> right, but there are also a lot of political calculations in here. i assume they're very close to the political calculations we saw in the last crisis. >> yes, they are, although, you know, in the last crisis it was very clear that the president had the let me rverage. he had just won the election. he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far
this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending...
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation
bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...
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house over the coming brawl over the debt ceiling. administration officials in a series of statements and discussions saying that all the cool, clever and quirky ideas that people have been talking about to avoid the debt ceiling are off the table. the administration in one form or another over the past several weeks has rejected the platinum coin idea. that was on saturday. scrips or ious issued by the government. and asset sales, which is another thing that's been making the rounds. jay carney on saturday saying there are only two options for putting the nation into default. others say the ideas put off the debt ceiling problem, or make the country look like a banana republic. some house republicans are seriously considering putting the nation into default. po lit ohco in a story this morning said default is becoming more widespread and getting more serious traction than people realize. kathy mcmorris rogers telling politico i think it's possible we would should down the government to make president obama understands that we are ser
house over the coming brawl over the debt ceiling. administration officials in a series of statements and discussions saying that all the cool, clever and quirky ideas that people have been talking about to avoid the debt ceiling are off the table. the administration in one form or another over the past several weeks has rejected the platinum coin idea. that was on saturday. scrips or ious issued by the government. and asset sales, which is another thing that's been making the rounds. jay...
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that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a budget together in years. we have a revolving credit, a tab at this all you can eat buffet and nobody wants to get up. it is not like there is a clock where boom. here is your bill. we'll start the next 24 hours like your charting machines. nobody is ever getting up. it's just a meal that never ends. so how do you in essence stop the eating, stop the debt that is created by running up the tab? well, it seems easy enough but of course it gets messy and the politics are different than the principles involved. the house republicans seem to have finally figured that ou
that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a...
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and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. ♪ you know my heart burns for you... ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief s! >>> the board of jpmorgan cutting jamie dimon's pay by 50% in light of a multibillion dollar loss last year. down from $23 million from the year before. that brings us to this morning's squawk on the tweet. how might jamie dimon tighten his belt. tweet us at squawk street. there's a lot of -- i don't want to say hatred, but ill wi
and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price"...
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ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer...
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regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker and his aides are telling us that they really mean it this time. that there has to be a dollar of spending cuts for every dollar that the u.s. agrees to raise the debt limit. and that they would even go for a two or three-month extension as they try to work on a more global discussion of cutting spending. but even if there's an extension, it has to go point by point. the other thing i want to mention, suzanne, which i thought was really interesting, after covering the white house under george bush, that last question about the fac
regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker...
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you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save the next election. if your conservative philosophy is indeed right, winning will come. joining me now, robert costa, and dave weigel, both of them doing great reporting, i appreciate you being here. robert, i want to start with you, tell me the thinking behind the three-month extension, why three months? >> a lot of it has to do public relations, i think what i heard from the retreat, and members in the room, they want to start to win the pr battle again, to do it they have to take the debt limit off the table, and fight with spending in regard to th
you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the cou
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money...
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let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to reduce the security that people expect in their old age. so we're talking about social security here. talking about mid care. we're talking about medicaid. these are foundations for the future life of most of the working population of the country at the moment. if you cut them, people will draw back in their current activity, at least to some degree. >> right. >> so you're basically saying you're going to do something which will squeeze people's living standards out in the future. it will not have any direct effect today on economic activity. except to the extent that people
let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to...
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ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm we'illing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows
ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or...
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in the first place. it would do so by removing the cap on the treasury of borrowing money. its chances of passage in the republican controlled house are basically slim and none. but at least it allows democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare
get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in...
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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantore made a very declarative statement today. there already immediately were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. it remains to be seen whether, indeed, john boehner and cantore can get passed what they want to do. then again this is just a
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran. >> it's hard to believe if we can't get a meaningful negotiation within the next two years that you will not have it read capable of producing a nuclear weapons. then, the u.s. has the choice in its negotiations -- will the solution be containment or is it going to be a preventive strike? >> as he takes the oath again, he will do it with the experience of that presidencies are often formed by crises that happened outside of their control. he will know all folksy brought here last i did not change washington. he will try something -- you have to try something new if you want to accomplish his ambitious agenda thi
but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran....
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>> on guns and the debt ceiling. if he, imperial president threads the constitution? >> on guns, he wouldn't do that and-- >> biden said may be as many as 19 executive orders. >> i think i think for guns they try to do it on ammunition and-- >> clips? >> i think we shouldn't, should respond with the next republican president, we won't ban abortions, but ban abortionists and abortion clinics. how would that be? they're not serious about doing anything about shooting in america, dianne feinstein has a concealed carry permit for good reason. >> sean: you saw i played the clip of her. >> we heard her on radio today and i support her, she's in danger and other women's, and women like herself, the fastest group of gun owners are single women. what are women supposed to do who are in danger and the business that new york is pushing through about banning these-- the extra capacity magazine. >> sean: seven bullets. >> and of all solutions this has nothing to do with the problem we're supposed to be addressing. if you're going into a gun-free zone as all of the mass shooters do
>> on guns and the debt ceiling. if he, imperial president threads the constitution? >> on guns, he wouldn't do that and-- >> biden said may be as many as 19 executive orders. >> i think i think for guns they try to do it on ammunition and-- >> clips? >> i think we shouldn't, should respond with the next republican president, we won't ban abortions, but ban abortionists and abortion clinics. how would that be? they're not serious about doing anything about...
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...
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and the credit agencies say they are going to lower our ratings but not because of the debt ceiling, but because they want a credible deficit reduction plan, and the president doesn't seem to be interested in actually coming up with a credible way to deal with the amount of spending we are doing in this country. bill: if that is the says, doyoo many me, do you think it can get through the senate. >> i imagine harry reid under the direction of the president will try to block these things. i'm going to continue to cosponsor senator haopl me's plan. we have a spending problem in this country. they know it in wyoming, families have to balance their budget every year. many states do. we do in wyoming. it's time for this senate and the house and the president to get serious about limiting our spending and specifically the wasteful spending that continues. in the last hour stewart varney and martha talked about some of the abuses that continue to go on. people know that their tax dollars are being wasted. we need to get the spending under control. bill: two days ago brit hume told us this w
and the credit agencies say they are going to lower our ratings but not because of the debt ceiling, but because they want a credible deficit reduction plan, and the president doesn't seem to be interested in actually coming up with a credible way to deal with the amount of spending we are doing in this country. bill: if that is the says, doyoo many me, do you think it can get through the senate. >> i imagine harry reid under the direction of the president will try to block these things....
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pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're seeing with the debt kreeling in they don't have the power and maybe taking this advice from the conservative columnist? >> it's rare i agree with charles krauthammer but don't fight battles you can't win and don't go to the brink to be perceived as pulling back and therefore losing. this is not a fight they can win. it's certainly one they can lose and i think, though, just doing this three months, we are not done with this. if you're a crisis junkie, we are in the position of not only did the fiscal cliff not end this, we'll talk about this, and talking about it and talking about it and whether there's a coheren
pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're...
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stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible then we can move on. it makes us look embarrassing to the rest of the world. stuart: what do you think the odds are of a downgrade? >> i think there's a 30% chance, maybe 35% chance. stuart: okay. we will check it out. thank you very much scott shellady always a pleasure. the cost of college tuition continues to rise, got it, but the number of students enrolling is on a decline. fears of massive college debt and the lack of job opportunities when you graduate, that has a lot of families realizing that maybe college isn't worth the investment. joining us now is the au
stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible...
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for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed for another government shutdown? fight over the debt ceiling, what comes first, but first, a look ahead at the president's schedule today. lots of off camera meetings. life live lunch. you're watching "the daily rundown" only on msnbc. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this
for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed...
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ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes that the american people may be saddled with. stu varney is varney and company on the fox business network. they're not the majority in the house, but there is he' a push to make them the majority in the house. and president obama is reportedly maneuvering in a lot of ways, politically now to try to set the democrats up to retake control of the house and there's a question about whether as soon as 2014, if they get their way, they're going to get rid of the debt ceiling. what would that do? >> what they want is unlimited borrowing by the administration so the treasury can say, i want to borrow, this, this, this,
ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes...
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rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, socia
rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment...
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the nation's debt ceiling. to cut to red, my next guest advocates more green when it comes to health care. the called the health reduction. she said there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this would be completely by choice -- for people who don't want to pick this public option, among the private sector choices within a health exchange, and rates for premiums are estimated to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush'
the nation's debt ceiling. to cut to red, my next guest advocates more green when it comes to health care. the called the health reduction. she said there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this...
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how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the american people said by god, get something done. >> are they right? >> look, it did work. boehner has also indicated he's not going to deal with the president one-on-one. they're going to go through the regular order. the senate is going to have to do something, the house is going to have to do something. they're going to meet in congress and send it to the presidency. i think the president's legacy to go big, to get a grand bargain, to have long-term economic growth but also to have a legacy of fiscal sustainability could be his major legacy piece. and i think even though he wants to do guns, even though
how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the...
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president, what's the deal with the debt? i've been hearing a lot about the debt ceiling. what's my family's share? i'm just a kid. when i'm a grownup, i understand it could be hundreds of thousands of dollars. could you guys please cut spending now? >> brian: if you want to know if that is going to happen today, see if rand paul's grandson will be in there or somebody like that. if there's a republican child or michael j. fox's character, michael keating. >> gretchen: that would be a good one. let's talk about what the new york state has done now and governor cuomo. he immediately went on the attack to try and pass very expansive gun law legislation because many people are saying he wants to run for president next time around and he also was very concerned about the issue. but some people are saying this morning that what they passed last night is full of holes. we want to show you a graphic of a particular kind of weapon that has been banned, a rifle. this is a baneli 1 rifle. the reason it's banned is because you can see how you hold on to the gun there. that's called a
president, what's the deal with the debt? i've been hearing a lot about the debt ceiling. what's my family's share? i'm just a kid. when i'm a grownup, i understand it could be hundreds of thousands of dollars. could you guys please cut spending now? >> brian: if you want to know if that is going to happen today, see if rand paul's grandson will be in there or somebody like that. if there's a republican child or michael j. fox's character, michael keating. >> gretchen: that would be...
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ceiling. . it has been less than one month since the tragic shooting at sandy hook elementary in connecticut and the country is deeply divided over the issue of gun control, and the deadline is approaching for vice president joe biden to representative his recommendations to the president which should happen tuesday. cnn's candy crowley is taking up the debate in today's "state of the union" and candy, i understand that you have a pretty outspoken guest on the show. >> well, a couple of them. david keene who is the president of the national rifle association and also we will talk to the new senator from connecticut chris murphy and i spoke to him a month ago up there on the scene at newtown, and then we want to try to take a look of this from a bipartisan approach if that is possible. there is a new group forming with senator joe manchin who is a democrat from west virginia and jon huntsman who was a presidential candidate a moderate who is trying to form this group to form bipartisanship, and i
ceiling. . it has been less than one month since the tragic shooting at sandy hook elementary in connecticut and the country is deeply divided over the issue of gun control, and the deadline is approaching for vice president joe biden to representative his recommendations to the president which should happen tuesday. cnn's candy crowley is taking up the debate in today's "state of the union" and candy, i understand that you have a pretty outspoken guest on the show. >> well, a...
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congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our bills. congress has two choices here. we can act responsibly and pay america's bills. or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. jenna: republicans like congressman jason chaffetz blasting back against the president. >> i think the president was terribly irresponsible today. to say he will not talk about it because he is above it, but blame all of congress, in part congress helped create this problem but we are going to hear to solve this pr
congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our...